The global drones market reached a value of US$ 22.1 Billion in 2021. Looking forward, the analyst expects the market to reach US$ 43.4 Billion by 2027, exhibiting a CAGR of 12.56% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
A drone, or unmanned aerial vehicle (UAV), refers to an unpiloted flying robot that can be controlled by remote or self-automation software. It consists of a power source, such as Lithium-ion batteries or solar, fuel and hybrid cells, rotors, propellers, cameras, altimeter, controllers to communicate through radio waves and a body frame. The frame of the drone is usually manufactured using lightweight and composite materials to minimize weight and enhance maneuverability during flight. These drones are commonly used for construction, agriculture, law enforcement, military operations, such as anti-aircraft target practice, intelligence gathering, and commercial activities, such as traffic and weather monitoring, firefighting and search and rescue operations.
The growing need to increase situational awareness in the military and defense sector is one of the key factors driving the growth of the market. Furthermore, significant growth in the construction industry is creating a positive outlook for the market. Drones are being deployed with geographic information systems (GIS), mapping services and light detection and ranging systems. These systems aid in surveying lands, providing constant and reliable topographic updates, improving safety and preventing hazardous situations. For instance, surveillance drones are being employed to monitor public movement during the coronavirus disease (COVID-19) lockdowns around hotspot zones. Additionally, the development of customized and technologically advanced variants is acting as another growth-inducing factor. Drones can be modified as per the requirement to create minimal noise and pass through narrow and confined spaces for commercial applications. They can also be attached with thermal sensors and night vision cameras to enhance their efficiencies. This, along with the increasing utilization of drones in the healthcare industry for rapid delivery of vaccines, medical supplies, and drugs, is some of the other factors projected to drive the market further.
Key Market Segmentation: the analyst provides an analysis of the key trends in each sub-segment of the global drones market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, component, payload, point of sale and end-use industry.
Breakup by Type: Fixed Wing
Breakup by Component: Hardware
Breakup by Payload: <25 Kilograms
Breakup by Point of Sale: Original Equipment Manufacturers (OEM)
Breakup by End-Use Industry: Construction
Military and Defense
Media and Entertainment
Breakup by Region: North America
Middle East and Africa
Competitive Landscape: The report has also analysed the competitive landscape of the market with some of the key players being 3D Robotics, AeroVironment Inc, Birdseyeview Aerobotics Inc., Delair SAS, DroneDeploy Inc., Intel Corporation, Parrort SA, Precisionhawk Inc., SZ DJI Technology Co. Ltd. (iFlight Technology Co. Ltd.), Terra Drone Corporation, The Boeing Company, etc.
Key Questions Answered in This Report:
How has the global drones market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on the global drones market?
What is the breakup of the market based on the type?
What is the breakup of the market based on the component?
What is the breakup of the market based on the payload?
What is the breakup of the market based on the point of sale?
What is the breakup of the market based on the end-use industry?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global drones market and who are the key players?
What is the degree of competition in the industry?
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Gross Domestic Product
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